Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Grain ship lightly damaged off Ukraine, likely hit sea mine - sources

Published 17/11/2023, 17:58
© Reuters.

LONDON (Reuters) - A merchant ship transporting grains was lightly damaged off the coast of Ukraine and was likely to have been hit by a floating sea mine, according to maritime specialists and a Ukrainian government source.

This is the latest incident affecting commercial ships sailing in the Black Sea.

War risk insurance premiums have risen to as much as 3% of the value of a vessel after a missile damaged a merchant ship in the Ukrainian port of Pivdennyi last week, industry sources said.

Four maritime and trade sources said the Liberia-flagged Georgia S bulk carrier laden with a wheat cargo was sailing from Pivdennyi when it was hit in the open sea on Thursday.

A Ukrainian government source told Reuters on Friday that it was likely that a floating sea mine hit the vessel.

Greece-based Seagate Navigation, which was listed on its website as the vessel's manager, did not immediately respond to a request for comment.

The vessel's last position on Friday was heading towards the Romanian port of Constanta, according to data from ship tracking and maritime analytics provider MarineTraffic.

After withdrawing from a U.N.-backed deal in July that guaranteed safe shipments of Ukrainian grain via the Black Sea, Ukraine says Russia has repeatedly attacked Ukrainian port infrastructure and also laid sea mines.

Kyiv has since opened what it says is a temporary humanitarian corridor in a bid to break Russia's de facto blockade.

Insurance broker Marsh MMC.N, Lloyd's of London insurers and Ukrainian state banks launched a programme this week to cut the cost of claims for damage to ships and crew transporting grain through the Black Sea corridor.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.